In the News: The future of luxury in a turbulent and emotional world
IN THE NEWS
Recent changing economic, political and social realities have led to a demand for more responsible business from luxury consumers, especially within the millennial segment. Business is no stranger to the ebb and flow of changing economic, political and social realities.
Hello BoF Professionals, your exclusive weekly briefing is ready, with members-only analysis and a digest of the week’s top news. Don’t forget to download the BoF Professional iPhone app to read this on your phone and get breaking news alerts. Updated 12:01 am GMT on 19 February, 2018 Another week, another Farfetch announcement.
Marketing by generation has been a go-to technique for retailers for what feels like forever – and it does have its uses. The technique can be helpful for those looking to identify trends in a certain age group or to help better target the right products to the right customers.
French luxury goods group Kering has partnered with London College of Fashion (LCF) to create a new digital that course aims to strengthen sustainability education in the luxury and fashion realms in order to promote the wider adoption of more sustainable practices.
China is the world’s largest luxury market, and one where fakes are still rampant. It’s a huge problem not only for brands, but also for Chinese shoppers willing to pay for the real thing who are plagued by doubts that their purchases may not be genuine.
LONDON – To every thing there is a season, says the Bible, but that no longer rings true for the runway, where brands and designers are tossing out their traditional calendars and dismissing trends as they aim to cater to a wide pool of customers and create clothes that can weather multiple seasons.Two of the most dynamic brands in fashion – Balenciaga and Gucci – have already let go of seasonal themes and narratives, an idea pioneered by Demna Gvasalia at Vetements.
LONDON, United Kingdom – It’s been almost 20 years since Nike debuted its successful “NikeiD” initiative, which allows consumers to configure their own sneakers with thousands of possible colour and material combinations. The service leverages what product strategists call “mass customisation,” a mode of production that combines some of the benefits of traditional craft production with the efficiency of modern-day manufacturing.
Chanel and Farfetch will work together to develop a range of digital initiatives both online and offline. Chanel will use Farfetch’s digital know-how to give staff insights on customer’s preferences. “We call this vision “Augmented Retail” – taking the magic of the physical boutique experience and bringing it together with the advantages of online and digital services,” said Farfetch founder Jose Neves.
POSITIVE LUXURY BRANDS IN THE PRESS
Café Belvedere | Partner Content Espresso Martinis. They always create a bit of a buzz. And right now that buzz is all around the opening of a beautiful, intimate, blink-and-you’ll-miss-it pop up bar devoted to pushing the boundaries of the Espresso Martini, which has been lovingly launched by the pioneers of luxury Polish rye vodka, Belvedere (which – if you have a thirst for knowledge in addition to cocktails – is named after Belweder, the Polish presidential palace pictured on its bottles).
Explore the looks, models, and beauty from the Gabriela Hearst Autumn/Winter 2018 Ready-To-Wear show in New York on 13 February 2018, with show report by Anders Christian Madsen
Sustainable brands and though leaders are set to contribute to a new book, Trashion Forward – The Emergence of Sustainable Luxury, currently crowdfunding on Kickstarter. Trashion Forward is the creation of Kenny Jackson-Forrest from style blog Style and Trashion, and sees the online presence translate to a gorgeous coffee-table book.
A new report from Positive Luxury suggests that beauty brands and retailers are seeing a rising demand for engaging their stakeholders in new and innovative ways. Positive Luxury, which describes itself as a platform that ‘connects luxury brands with consumers that care’, released the report entitled ‘The World is Ruled by Emotions: Breaking Tradition the Millennial Way’ via its site, and it is available here .
Incredibly remote and decidedly luxurious, you would want to have any of these sun-soaked destinations all to yourself By Lynnett Yip When it’s time to run away from the hustle and bustle, we won’t fault you for immediately thinking of travelling to Koh Samui, Cebu and the Maldives but forget those if you’re looking for the perfect combination of rarity, privacy and true luxury.
A recent headline that caused alarm among those with a sweet tooth – that is to say, much of the world – was that at current rates of climate change, the cacao tree was on course to go ‘extinct by 2050’. That could be the end of chocolate as we know it.
All frescos, floor-to-ceiling windows, natural light and heavenly hydrotherapy pools, if you need a day of indulgence, *ahem* plus another to choose between its 50 or so treatments, I give you the uber-luxe, 5* Chewton Glen spa. Enough. Said.
An A-list arsenal awaits. Every beauty aficionado knows a product recommendation is priceless-particularly if it comes via an A-list model/designer/entrepreneur who’s well-versed in putting a plethora of products to the test. These five It-girls certainly fit the brief; and between them have curated a tried-and-tested edit of cult beauty buys that are simply unmatched.
POSITIVE LUXURY AS FEATURED IN…
Creativity and the feel-good factor reigned at Pure London with a celebration of global fashion while the key takeaways included sustainability, experimentation, personalisation, collaboration and newness.